29 April 2016
Sir At 31st March night I was filing itr5 for male bussiness individual but the acknowledge ment raised on the date 1/4/16 at 00.57 am. Am I liable for any charges for being late, if my tax is in refund status? Please help.
30 April 2016
As per the provision of Income Tax Act, 1961, penalty would be leviable. However department do not impose it. In your case, you may not be penalised as your intention is to comply law. So, you need not to worry.
CAclubindia
